Wells Fargo & Company Issues Pessimistic Forecast for Paramount Group (NYSE:PGRE) Stock Price

Key Points

• Wells Fargo & Company has lowered its price target for Paramount Group stock from $4.50 to $4.20, maintaining an "underweight" rating, indicating a potential downside of 37.27% from its previous close.
• Despite Wells Fargo's pessimistic outlook, Evercore ISI recently upgraded Paramount Group to an "outperform" rating with a target price of $8.00, reflecting mixed sentiments among analysts.
• Paramount Group has displayed significant institutional interest, with entities like Squarepoint Ops LLC and State of Wyoming increasing their stakes in the company in the last quarter.

Paramount Group (NYSE:PGRE - Get Free Report) had its price target dropped by stock analysts at Wells Fargo & Company from $4.50 to $4.20 in a report released on Wednesday,Benzinga reports. The brokerage currently has an "underweight" rating on the financial services provider's stock. Wells Fargo & Company's price objective points to a potential downside of 37.27% from the stock's previous close.

PGRE has been the topic of a number of other research reports. Evercore ISI upgraded shares of Paramount Group from an "in-line" rating to an "outperform" rating and upped their target price for the stock from $4.50 to $8.00 in a report on Tuesday, May 20th. Mizuho upped their target price on shares of Paramount Group from $5.00 to $6.00 and gave the stock an "outperform" rating in a report on Monday, July 14th. Two equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $5.36.

Paramount Group Stock Down 0.1%

Shares of NYSE PGRE traded down $0.01 during trading on Wednesday, hitting $6.70. 123,552 shares of the company traded hands, compared to its average volume of 2,285,620. The company has a debt-to-equity ratio of 0.90, a quick ratio of 5.91 and a current ratio of 5.91. Paramount Group has a fifty-two week low of $3.75 and a fifty-two week high of $6.93. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of -18.60 and a beta of 1.35. The business's fifty day moving average is $6.42 and its 200 day moving average is $5.35.

Paramount Group (NYSE:PGRE - Get Free Report) last posted its earnings results on Wednesday, July 30th. The financial services provider reported $0.17 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.03. Paramount Group had a negative net margin of 10.49% and a negative return on equity of 1.92%. The company had revenue of $177.05 million for the quarter, compared to analyst estimates of $173.98 million. Paramount Group has set its FY 2025 guidance at 0.550-0.590 EPS. Equities research analysts predict that Paramount Group will post 0.78 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Paramount Group

A number of institutional investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC grew its position in Paramount Group by 235.9% in the 2nd quarter. Squarepoint Ops LLC now owns 217,391 shares of the financial services provider's stock worth $1,326,000 after purchasing an additional 152,663 shares in the last quarter. State of Wyoming grew its position in Paramount Group by 195.5% in the 2nd quarter. State of Wyoming now owns 71,000 shares of the financial services provider's stock worth $433,000 after purchasing an additional 46,974 shares in the last quarter. Hudson Bay Capital Management LP bought a new stake in Paramount Group in the 2nd quarter worth about $6,109,000. Headlands Technologies LLC bought a new stake in Paramount Group in the 2nd quarter worth about $164,000. Finally, CANADA LIFE ASSURANCE Co grew its position in Paramount Group by 14.6% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 285,652 shares of the financial services provider's stock worth $1,741,000 after purchasing an additional 36,312 shares in the last quarter. 65.64% of the stock is owned by institutional investors.

Paramount Group Company Profile

Paramount Group, Inc ("Paramount" or the "Company") is a fully-integrated real estate investment trust that owns, operates, manages, acquires and redevelops high-quality, Class A office properties located in select central business district submarkets of New York and San Francisco. Paramount is focused on maximizing the value of its portfolio by leveraging the sought-after locations of its assets and its proven property management capabilities to attract and retain high-quality tenants.

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